NJ Dealership Owners Sued by Nissan, Hyundai
Sept. 14, 2018—A car dealership group with an Englewood Cliffs, N.J., store and two former NFL standouts as owners is being sued. According to multiple reports, including by northjersey.com, the dealership owners face accusations of improper sales and missing vehicles.
Englewood Cliffs Cadillac is owned by former New York Giants Antonio Pierce and Jessie Armstead, along with businessman Michael Saporito, who are named in the lawsuits. The ownership group was accused of selling more than $10.5 million worth of vehicles out of trust and with having 98 more missing. A July audit by Hyundai Capital America showed discrepancies at some of the group’s stores, including the sales out of trust and missing vehicles; selling out of trust involves the illegal sale of a vehicle that has been paid for with a loan and then not using the sale proceeds to pay back the lender.
Pierce, Armstead and Saporito have denied the allegations in court documents.